TransMontaigne Partners LLC announced the completion of the sale of its terminal facility on Fisher Island, Miami, Florida.
The terminal, which has an active capacity of approximately 700,000 barrels for marine fuel storage, was sold for $180 million.
Following the transaction, TransMontaigne leased the terminal from the buyer to continue operations under its existing customer agreements.
The company said proceeds from the sale were used to repay certain term debt obligations.
TransMontaigne Partners LLC is a limited liability company headquartered in Denver, Colorado. It operates as a provider of terminaling, storage, transportation, and related logistics services for bulk liquid products across the United States, including the Gulf Coast, Midwest, and West Coast regions.
